♪ ♪ imus in the morning ♪ >> a gas crisis, that's sandy's legacy today. and the numbers on the economy right before the election are not encouraging for the president. good morning, everyone. do you want gas? in the new york area, you will have to wait for hours, you want power? millions will wait for days, but it's the supply of gas that is today's crisis. driving to work will be almost impossible for millions.

piled on top of the mass power outage, the whole nation's economy will surely take a hit. new numbers today, paint a grim picture on employment and it's a snapshot of the economy which remains weak. the latest fox news poll shows a dead heat and the candidates are tied five days to the election. we are we go. another big day. "varney & company" is about to begin. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade.

>> all right. everybody, five days until the election and here is the latest snapshot on the economy. the private sector added 158,000 jobs in october according to the adp report today. also released today weekly jobless claims, 363,000 in the latest week, that's still a high number, seems to be the new normal, you might call it the new normal if you like excluding

the two unusual reports earlier this month, leading to the government jobs report. and last month, a surprise drop in the unemployment rate. that reported 8:30 eastern tomorrow morning and you'll have it hereof course, it will be the last big report before the election. question, would it swing voters either way? right now, it's a dead heat. and the latest poll from fox news have the candidates tied. 46-46. and that's where it stands. look at this, these pictures may look familiar to some of our viewers, gas lines, and this is a lot worse than in the 1970's, this is a common scene in new york and new jersey right now. and many stations don't have power, but those who do are seeing very long lines, not just cars, people are filling up gas cans for their generators and adds up to a post storm gas crisis, if the power doesn't come back soon, there may be no gas. if you're in a line for gas, snap a picture with your phone and post it on your facebook, on

our facebook page. we want to see the photos and show them on the air and tell us how long you've been waiting in line. we want to hear from you, get it to facebook, place. 8.5 million dollars, that's how much money greg merson gets for winning the world series of poker, the main event. 6600 players put in $10,000 apiece, a huge number considering internet poker is illegal in the u.s. and it's the fifth straight year that the winner was 24 or younger, how about that. five days until the election, a dead heat in the polls, but are all of the polls telling the real story, we're talking about that today. plus, a maker of generators, seeing a boom after sandy, and the stock is up big and checking it when the opening bell rings in a few minutes. first, a look at the human toll that sandy has taken on the devastated jersey shore. >> don't deserve this.

and-- everything gone, i've never in ten years had water in my house. stuart: ♪ [ engine revs ] ♪ ♪

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>> it's a news background today as we wait for the market to open. a 20 point gain of the dow on

the opening bell. stuart: the number of the morning, 363,000. new claims for jobless berths, that number not affected at all by the storm. 363,000, a very high number and means that the layoff trend continues and it's true it say that throughout this year, 2012, we've got seen the number drop significantly below 363,000 in any week except for maybe a couple. it's a very high number. weak economy. the market is now open, where are we? we're up about 20, 30 points as expected and puts the dow at 13-1 five days to the election and we're going to call these sandy stocks, these are stocks receiving a lot of attention, they're moving because of the storm and we're going to start with gen-rack, and makes home generators, that took off a little bit and up more today. earthmovers, the going to dig us

out and rebuild and caterpillar closed up yesterday, a little more today. home depot, how many are shopping this to start making repairs. stock up yesterday and today. travelers, a dow componentttook a hit yesterday and down a little more today. so, the trends of yesterday continue in this post sandy period. to nicole, exxon, they reported lower profits that are better than expected, apparently. when exxon reports, you have to ask how much they pay in tax, i've got a number. 24.2 billion dollars in a quarter. so what's the stock doing? >> the stock is to the down side, down nearly 1%. and the issue with dow component exxon is the output, output for exxon has fallingen to a three-year low. despite the fact that you have some earnings that beat the big picture here is the concern about output for exxon and that's why you're seeing the down arrow here. >> and the next time that they beat up on the oil companies

because they're not paying their fair share, tell them. 24.2 billion dollars in taxes in one quarter, how about that. >> that's right. >> and 24.2, got the number. thanks very much, nicole, the dow is up in the first couple of minutes, 35 points. and let me get a gas prices, they're still falling. the national average for a gallon of regular now coming in at 3.50, down another penny and a half overnight and down about 35 cents from the high and diesel is back to 4.04 a gallon. the trend, we're seeing the average price for gas coming down 27 cents, nationwide down in the past month. not a bad drop. five days ago, to the election, and the latest fox news poll is outt here it is, it has president obama and governor romney in a dead heat. 46-46. and recent quinnipiac new york times, cbs news poll shows a president with a 5 point lead in ohio. karl rove questions the validity

of that particular poll. he says, quote, that survey gives democrats a plus 8 advantage in turnout. the same advantage democrats had in 2008. that assumption, writes karl rove, is to put it gently, absurd. joining us from the weekly starred, kelly jane, is karl rove on to something, do you think? >> possibly. you know, i have to admit i have trouble understanding this obsession that pollsters and pundits have with the numbers and kind of reminds me when i was a kid and couldn't wait until december 25th to see what i got for christmas and wrapped a little of the gift. nobody wants to wait a week and everybody has to know what's going on now. stuart: if you look at things now. the romney camp have to admit the momentum they the got falling the debates has stalled and they're actually in a dead heat. my point is, the momentum has stalled and that has to worry them. >> you're right, it's a dead heat and nobody can deny at that

despite the fact that people on both sides, obama campaign people and romney campaign people, and you see the carl rows piece and the numbers that rove quoted are national polling numbers. there's been a big discrepancy between the national numbers and state numbers. according to the national numbers, dead heat or romney slightly ahead, but the state by state breakdowns are showing that obama has the edge. stuart: i don't know how you can account for that. how can you have one candidate in the lead nationally, but behind in the key states like ohio? i don't know how that could work out, quite frankly, i don't get it. >> you're right, it can't work and that's why basically people are picking and choosing, are they going with the national or the state numbers. there's a the lot of reasons why it could be. for one thing the national pollsters have been around for a while, you know, they've got their methodology and the state

polling is done by different methodologist, we'll find out november 6th who is right, but looks to me, karl rove does make a good point. when you've got ohio saying that we're going to have democrats the same turnout in 2008 when people were so excited about their candidate and so much less excited about him now. and there's no question there's a problem there. and that's the thing, every, every poll uses a different methodology. >> i don't know how you measure the intensity of your intentions to vote. i don't know how you measure that and i i don't know whether they're measuring or not. what i've seen there's a great intensity tt republican side and really want to get out there and vote and there is not the same intensity on the obama side. i don't know how that translates to the actual poll next tuesday, but something i don't think that the pollsters are measuring now. >> it's interesting, because the pollsters don't want to tell you exactly how they are he' measuring it, how they decide who the likely voter as opposed

to the registered voters, they ask did you vote last time and-- >> they have ways to figure out how likely the person is to vote. that's the thing, you can't measure human nature and somebody might say, hey, i'm he really excited about romney and going to get out there and tuesday comes, you don't know. but this iere's no question, th obama excitement is nowhere near 2008 and any poll that claims that democratic excitement is the same as four years ago it is, you can't take it seriously. >> last one, have you seen any impact from the libya situation and the president's refusal to take direct questioning on the libyan situation. has it had any impact on the voters at all. >> i wish more were covering it, fox and fox business are some of the only ones, our own weekly standard as well. when you look at the approval rating, and the majority over 50%, 51 in the last poll i saw, disapproved of handling in

libya, i think that strengthening given the new york times went days without running a single story on it, i think that it should be a bigger story, to me it's a scandal and the fact that we're seeing, the fact that we're seeing people unhappy with obama despite the lack of media coverage really says something, and i think if we saw more coverage, that would >> i'm almost out of time, i want to you call it, who wins? >> now what? i've been one of the people who has pretty sure that obama is going to eke out a victory, but admit in the last two days i've start today doubt myself, but if i had to put money on it, i would say a very narrow obama win, but luckily, i don't have to put money on it. stuart: all right, kelly jane, thanks for joining us as always. >> thanks, stuart. stuart: i want you to check out the pictures from brooklyn, new york, these are commuters lining unat the new basketball arena for buses headed into manhattan and mayor bloomberg imposed a

ban on cars entering the city unless they have three or more occupants, this is new york trying to get back to normal, but still, a lot of headaches in had huge metropolis. at the top of the hour, the latest on the housing market for you, one rare bright spot in the economy, that's housing. freddie mac releases rates, and new record lows, we will have it for you at ten and top of the hour we get the latest rasmussen tracking poll and both of those stories in just what, 22 minutes coming up. back to nicole, netflix shares, we report on this all the time. they are he' up and down and down today, why. >> they're up and they're down and this is why. it's interesting, because yesterday. we talked about the fact that we found out the regulatory filings with the sec, activist investor carl icahn obtained a stake in netflix, we know when he gets involved, something happens and netflix has been a key takeover

target, acquisition target from microsoft to amazon so we'll see what happens, but today, it's giving a little of that back, stuart and you know, we saw netflix last summer, a $300 stock, certainly a volatile one. stuart: july of last year, 315 or something. look at it now. by the way, the dow is up 74 poin points, not a bad way. rur wearing a purple reason for some reason? >> i am, a couple of things that happen as november comes along, this particular ribbon they've given out today for pancreatic cancer and the owning belfour testicular cancer and prostate cancer, november for men and this is one of the months to have that awareness. stuart: thanks, indeed. nicole. time is money, 30 seconds worth of whatever else we're watching for you today. here we go. in new york and new jersey

people are waiting hours for gas for cars and generators. should they raise prices and the market take over the supply and demand situation? the judge is going to be here and defends what some people call price gouging, he will defend it. we'll be talking a lot about groups of voters leaning towards president obama, but dan henninger, it says, there's one group ready to show up and i mean, big time for mitt romney. dan will be here. well, i was out of town when sandy hit and i watched from a distance, but i drove back to the area yesterday, i'm going to tell you what i saw, that will be my take coming up later today. don't forget about the "varney & company" election day special. we're on of course at 9:20 eastern on the morning and we're back at 5 p.m. eastern for a whole new show, that would be election day. don't miss it, please. all right, i've got your seven early movers for you this thursday morning, we've got a lot of companies reporting earnings today and they're moving because of it. better than expected profits of the economic-- the cosmetics company that will

be estee lauder. better than expected, but the stock down. and exchange operator cboe, but better than expected and that's up a fraction and pfizer reported less money coming in after losing patent on the lipitor drug. better than expected profits at satellite radio company seiri, barry changed. and acorrespond reports lower profits a profits-- avon reports lower profits. and zumiez, that's not down a little, that's down off a lot 13%, that's been a lot of talk about feema and whether we need to be funding it. both before and after sandy. well, next, john stossel makes the argument that private industry is better at responding to disaster than the federal government. i may disagree with na. with that.

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tell your doctor if you're prone to infections, have cuts or sores, have had hepatitis b, have been treated for heart failure, or if, whilen enbrel, you experice persistent fever, bruising, bleeding, or paleness. [ phil ] get back to the things that matter most. ask your rheumatologist if enbrel is right for you. [ doctor ] enbrel, the number one biolog medicine prescribed by rheumatologists. hahahaha! hooohooo, hahaha! enbthis is awesome!one biolog medicine folks who save hundreds of dollars switchinto geico sure are happy.

i'd say happier than a slinky on an escalator. get happy. get geico. melons!!! oh yeah!! well that was uncalled for. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. >> let's call it a modest rally. the dow industrials are up. 13,100 now look at the price of oil, depressed recently because of lack of demand because the refineries have been shut down. oil is at $86 a barrel. the not much changed today. we want the federal government to stay out and handle things, please. and in disasters like sandy, the hurricane, some say you need the government, you need federal government and local government.

john stossel is here, let me play devil's advocate n an emergency situation, you need government. at least some of it. you need them, don't you? >> some of it. local government, the local police, the local fire department and rescue workers, but why do you need the federal government? what good does it take to take money from new jersey, ship it to washington and have fema ship it back. stuart: doesn't federal money open up the spigots for private enterprise. if the feds are backing maybe reconstruction and backing the-- putting generators in place, if the federal government is backing that financially and with national resources, isn't that a help? >> yeah, but the federal government's broke. that money is taken from somewhere, it's taken from other people. if the people in new jersey decide, i need a generator, it's much better decided there, than the fema scandals are endless.

after katrina they turned away free water from wal-martt stuart: okay, i'm in my house, a wife and two young kids and we have water up the bag stairs, i'm marooned in my bedroom and leaning out the window and saying, private enterprise help me, help me. no, i'm not going to say that. i'm going to say you cops, firefighters, please come get me, i need help this is an emergency. >> that's all local government. why would you want to send your money to washington for your local cops to help you? >> so that you only object to the feds in this. >> i believe unbelievably wasteful, like the feds are, you vote those guys out. stuart: what politician would get elected if he or she said you're on your own. >> it's not saying you're on your own. it's saying we're broke, you need to rely on your local police authorities. if they can't handle it, then in

a national emergency, we'll come in, but otherwise, we don't have the money. stuart: you wouldn't expect to win an election on that basis, would you? >> well, i'm not running. stuart: you're not. >> if they watch your show, they realize the government fails. stuart: and don't put that on mine. but that's the book "government fails". stuart: is that in print, of course. stuart: high demand and your show is on the fox business network. >> we'll solve the gas line problem. stuart: we'll argue with that with the judge, that's his argument. >> whatever he says, he's right. stuart: john stossel always right. thanks, john. time for the gold report 9:49 eastern. close to 1700 an ounce, and now we're creeping up to 1721, there you have it. democrats keep trying to make their case for global warming. the latest example, using sandy

as an excuse to push the green agenda. elizabeth macdonald and charles payne are here and we'll get their reaction after this. look at this!. . >> not a dramatic change in weather patterns, i think is denying reality. 4g lte is the fastest.

so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a different chart. going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks combined.

>> it really didn't take long, did it? just a few days after hurricane sandy and democrats are already blaming it on climate change. we expect that from al gore, but from andrew cuomo during the emergency press conference? >> there has been a series of extreme weather incidents. nip that's not a political statement, that's a factual statement. anyone who says there's not a dramatic change in weather patterns i think is denying reality. stuart: well, he's not alone. congressman henry waxman is calling for a congressional hearing into the matter. start with you, liz. >> 0s extra, university, the st.

petersburg obje petersburg, they believe there's weather change, but what's causing it. and lehman brothers and wells fargo, goldman sachs, saying that any insurance is saying, yes, there is climate change. stuart: okay, is the governor, governor cuomo, is he correct in saying yes, there are more extreme weather events? >> it seems that way since 1980. >> if joe bastardi is going to the 1950's and extraordinary hurricanes that hit the united states just as powerful if not more so back in the 1950's. charles: there's no doubt that we go through the cycles. when eric the red left iceland and greenland the reason he had to leave again was because of the little ice age. i've got a joke on this one. stuart: we have snapshots of the economy breaking the latest on

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♪ >> new at 10. two more significant snapshots of the economy, the manufacturing and housing

sectors, two big numbers coming to you in just a matter of seconds, we'll have them for you momentarily, i promise. and check out the big board, this is a rally, ladies and gentlemen, and the dow industrials are now up 125 points, and that puts the dow above 13,200. all right, we're waiting on the numbers, i'm going to give them to you. we're going to give you the 30 year fixed rate mortgage rate, here it is, 3.39%. now, that's significant because it's so low. 3.39%. and that's the rate of 30-year fixed rate mortgages from freddie mac. it's right down at historic low levels. under 3.4%. and we've got construction spending in september up .6%, and that's neither good nor terrible, it's about in line with what we're expecting and the consumer confidence, we've got a reading there, the reading came in at 72, that's a plus, and that's a fair youly strong consumer confidence reading.

and perhaps that's why the dow is up and climbing higher. we're up 141 points as we speak. so, consumer confidence, very low reading on the 30-year fixed rate mortgage and construction spending up. we've not gotten the ism, not gotten that, but the dow is up. 143. let me introduce our company this thursday morning, elizabeth-- elizabeth macdonald is with us and so is charles payne and nicole petallides. >> what kind of brit can't pronounce the name macdonald. stuart: no, elizabeth is what stopped me. . charles: and my queen. >> a lot of people call me queen this morning. stuart: nicole, caterpillar, one of the leaders in the dow. >> i'm impressed. you always say nicole petallides so easily and let's take a look at caterpillar, the best performer on the dow jones industrials as we rebuild in the

aftermath of sandy and the dow is pop up 150 points right now, but there are so many names that are obviously going to be moving and no pun intending, earth moving equipment, right? not only will we see names like caterpillar, but home depot, generac for generators and names from sandy gotten a pop. stuart: and ism reading, essentially the manufacturing sector. it came in last month. flat compared to the month before and the manufacturing index red 51.2, i think it was, or-- 51.7 was the reading, really flat compared to september, but that's not holding back the dow industrials which are now up, 144 points. and all kinds of numbers released, and showing a fairly-- i'm not going to say a favorable view of the economy, but certainly a favorable view of the housing sector, low mortgage

rates and an up tick in construction spending, that's the dow up 142. politics, five days until the election, and here is the latest snapshot on the economy. and weekly jobless claims, 363,000 at the latest week and that number is high and i'm going to say this is now the new normal. excluding those two unusual reports that we got earlier this month. this is all leading up to the big jobs report that comes out tomorrow morning. last month we got that surprise drop in the unemployment rate. we'll have the new number at 8:30 eastern tomorrow morning. and it will be the last big report before the election tuesday. yes, that's almost here. gas lines, common sight on major roads in new york and new jersey, especially right now. people are literally lining up for miles, waiting hours to fill up their cars and tanks. should the stations be allowed

to charge as much as they like? market pricing? some say yes. the judge included. we might argue that point,le' be with us, elizabeth, later. all right, let me ask you about the job situation tomorrow. this is a big subject. a big report. 7.8% was the jobless rate last month. and do you want to throw out a forecast, charles? what do you say? >> i'd say 100,000 private sector jobs, 8.1% unemployment. that's a big swing. the economists, yeah, i hear what you're saying, 7.9% is what i think some economists are suggesting, but the adp story that we're working on today, stuart, there's such volatility in numbers and switched to new methodology and shocked jobs down by 341,000, so if it were not 1.5 as adp-- >> hold on, adp, the report on private sector new jobs. >> correct. stuart: the latest report, they

have redone the calculation, recalculated everything and a new management and moody's is new managing. >> switched with moody's and lit particulars, they've gone back and looked at monthly reports for year. >> 2001. >> for this year recalculated and shows far fewer brand new private sector jobs created this year, is that correct? >> correct. a swing of 341,000 less jobs created than initially reported by adp. i went through the numbers, i went through the press release, stuart, that's a swing of 24%, in other words, not 1.5 million jobs created since january and this is a talking point on the campaign trail and actually 1.2 million jobs created according to adp. we know that adp has volatile and unreliable, but now they're saying they're skewing closer to where the numbers are. i talked to zero labor statistics they they have 90% confidence in their own numbers so they're going to be a point already, huge swings in the jobs

numbers. can we say this jobs report will pick the next president? i would say no, you've got to look at monthly jobs report. charles: i would say this morning this adp number is better than expected and one of the reasons the markets are rallying now. stuart: i think the job picture looks grim. bear in mind the recalculation of private sector. 300,000 jobs you thought you created and you haven't and you've already done 1.2 million this year thus far, according to adp. that's grim. >> that is grim. stuart: we look at bureau of labor statistics tomorrow. the only reason the unemployment rate, primary reason people have worked out of the work force. charles: now what they should do, bennhmark the unemployment rate to inauguration day to ronald reagan and get something that we can always measure, you know, in other words, it would be a consistent measurement of who is really in the work force, how many people are gainfully

employed. and that should be the benchmark. stuart: we've got a democrat sitting on the bench now and we'll get to her later. i'm sure she'll look at what we're saying. less than a week before the election and governor romney, taking a detour into states that are leaning democrat in the polls. romney has upped his efforts in the swing states of pennsylvania, michigan, and minnesota. and joining us now is romney campaign senior advisor, bay bu n buchanan. phy is he going into these states that are normally mru. >> because they look good. pennsylvania and also michigan, in pennsylvania we've had offices, 26 offices open 60-some employees since may. we've always had a ground game, knocking on doors and making the calls and the key to pennsylvania is 96% of the people there will vote on election day, they don't have the early and absentee models

that too many other states do. we're watching carefully to see if it moved if there was an opportunity and we saw in the last couple of weeks, real opportunity there and now we're' moving in big. we think we have a real chance to win pennsylvania. it's going to be tough, but we think we can do it. stuart: now, i've annoyed a lot of our viewers this morning suggesting that the romney momentum has stalled and a virtual dead heat. if you look at the polls, you have to say that that momentum gaining ground for romney, gaining has stalled. will you tell me why the polls are wrong? >> well, first of all, depends which polls you're looking at, but you know, the polls are all over the place at this stage, and you know, you see some in ohio that have us down quite a bit and then ones in ohio that have us up one or tied so i think the important thing right now is not the specific polls, it's who has voted, have we done well, better than we expected to do with those who have already voted and we have, stuart. we've had a terrific game out

there and coming in higher than we had hoped and certainly much higher than we did in 2008 and the democrats have come in much lower so we're doing very, very well with the absentee and early voting and secondly our numbers show we'll do well on election day when we shine and with the terrific ground game. if you look at ohio in particular, you see that the democrats are 180,000 below where they were in absentee votes,,below where they were in 2008 and we're up 75,000, so, we've got the entire margin of victory for obama has been eliminated. so, we're in a dead heat there and think we're going to do well on election day, so, we've got the independents out there, are all are coming our way, in ohio the independents are double digit for us, how do we lose in a state when we get our republicans out and win the independents. i think election day is going to be very, very day independent of what the polls may or may not 1 have shown today. stuart: you may have brightened the outlook of many of our

viewers, we'll see you soon i'm sure. stuart: you're welcome. >> we're feeling today, and they should feel good. get out and vote. stuart: we hear you. joining us now democrat strategist, julie, welcome to the program. barack obama is doing better than mitt romney is and determine the election. i respect what bayh is doing and understand she has a job to do. sorry to interrupt. paul rove has an excellent

piece, they've used a sampling method from 2008 election and they're over sampling democrats and why the poll is skewing towards president obama, you're laughing. >> i'm laughing, carl raised a billion dollars from the donors. stuart: that's not the point. >> he needs to say i don't think he's right. stuart: he's factually right looking at the turnout in '08 and used as a voting pattern for 2012. >> not all polls. stuart: all right, let's write it down. new york times, gave hard for the obama team put him up 5 points in ohio and karl rove looked specifically at that poll. overpolling, oversampling of democrats skewing the overall result. that's a fact, not an opinion. >> stuart. i've been hearing about the skewed polls for ages and here is the bottom line, every pollster worth their salt and that's most pollster, are not

going to skew numbers, nobody will believe them when the numbers don't prove to be accurate. when you look at the polls the way the people's lives depend on it you're not going to-- your credibility is on the line. stuart: the is new york poll, oversampling. >> and even rasmussen said democratic turnout is going to be higher than republican turnout. >> what the polls said. >> gave it a plus 2. and stuart is asking a fact-based questioning. have you looked at the sampling methodology. >> i have. >> and did you see it could be skewed toward more democrats. >> let me tell thank you, there are certain polls that screw more democrat and some screw republican because the automated and call people with land lines and tend to be older, white and republican people that's a fact of life. different people have mifrn

methodology and some are more accurate than others. carl's point i can understand where he's coming from, and karl needs heart to his base, but you can't say new york times or pollster with credibility is going out there and skewing people by-- and create a momentum and-- >> i think the new york times is rallying the base, quite deliberately by skewing the poll. quite deliberately i think the new york times pollster, not the new york times. stuart: and the poll-- >> you're not going to tell the pollster who to poll. >> fox news tell who who poll. >> they commission the poll. >> stuart, does fox news do that, of course not. stuart: the new york times wants to rally the base and-- >> that's a conspiracy theory not worthy of you. stuart: we'll see on tuesday. >> we will. stuart: julie, what a pleasure. >> thank you, as always. [laughter] back to nicole, as always, i'm

glad you said that. >> avisa is higher why. >> the stock is up 2% and also mastercard is up as well. they've seen a rise in profit, 88% rise and some of the debit related losses because of regulations and stuff. that has paired a tax scheme, also, and couple of things, tax related benefit. so with these coming in the quarter, visa is a winner. stuart: indeed at $140 a share. thank you, nicole. prices for hotels, gasoline, essential supplies are spiking along the east coast after hurricane sandy. some call it price gouging. the judge defends it next.

>> it's a modest, no, it's a solid stock market rally this morning. and the dow jones industrials are up 131. lots of economic news came at the top of the hour and manufacturing sector reading there was flat and shows flight growth in manufacturing, that's all. consumer confidence up big, that's why the market is up presumably. highest since february of 2008 by the way. freddie mac, the 30 year mortgage, look at that, 3.39%, that's low. quarterly report this morning from pfizer, the big drug company, 14 billion dollars worth of sales in 13 weeks and that's a lot of big sales. not as much as expected so down it goes a few cents and netflix

is also down, yesterday that stock jumped on reports that carl icahn had taken a stake in the company and that's what happened today. we're down a bit. down 4 bucks, wait for it back in 90 seconds, the judge will defend price gouging at the gas station.

>> if you do go to home depot and ask about a generator they've got briggs & stratton, but the real one, the mack daddy, one you hook up to the natural gas line and never goes

on, the lights are on and the neighbors are off. and cost you a lot of money, g eche generac. >> he said that on friday and when markets reopened gennerac makes the-- >> mack daddy. >> the mack daddy, that stock was up 20% yesterday and i'm looking at today and i think down 44 cents, but that was a terrific story, well done. charles: hope you made money and hope people made some money off the storm. stuart: people like me that bought a generac generator and didn't buy the stock. charles: of course, you have one of those, but there's more microsoft-- >> and you should buy the microsoft computer and not the stock. stuart: as promised now, listen to this, folks, the latest rasmussen data tracking poll,

here it is, romney 49, obama 47 the same as the past three days and i take it all that i said about governor romney losing some momentum. he's kept that 2 point gap for the the last three days, above president obama. got it? i think i've cleared myself. we've made a lot of comparisons between 2012 and 1980 and now another one, gas lines, people in new york and especially new jersey lining up for literally hours. many stations don't have power at all and some have run out of the gas they've got and they can pump and they don't know when the tankers can get in to give them more gas. so, should stations be allowed to raise their prices, let the market decide who gets gas and who doesn't? all rise, judge andrew napolitano is here, i don't-- >> you never give me the easy ones. . [laughter] >> you realize of course, that if gas stations were allowed to charge what they wanted to charge, and to, to get rid of

the gas lines, there would be a revolution, you realize that. >> do you realize that if buyers were willing to pay what they agreed to pay, there'd be enough gas to go around. which is a better al locator of resources especially when they're scarce, the government or the free world. stuart: i understand entirely you're talking principle, economic principle and you're absolutely right. >> i'm talking practicality. if you go to a supermarket and the example is from our friends at the wall street journal who actually sampled some supermarkets on tuesday in new jersey, you'll see people leaving with shopping carts full of things like cans of tuna, enough cans of tuna to last for two years and has a shelf life for two years, if the free market ajusted the price of tuna, people would buy what they needed for the duration of this crisis and enough to sell to others and that's the value of a

willing buyer and a willing seller agreeing on a price. now, don't you make the london school of economics ashamed of you by coming up with some sort of authoritarian scheme here. if you want less of something, regulate the price and if you want more, free-- >> i've got my wife and two babies at home, okay, no power coming to my house, but i do have a generator, okay? i have a generator and i go out to the gas station to fill up a couple of cans of gas because i need it for the generator so the kids don't freeze to death, okay. >> it's a hypothetical i'll accept it. >> gas station says i've got gas, but you've got to pay $20 a gallon because that's the price that i intend to pose for this particular gas and i say, wait a minute, wait a minute, you can't do that to me. my kids will freeze, you cannot do that to me. >> you'd come up with the $20 because keeping your kids-- >> oh, you think that-- oh, come on.

>> should gasoline be as heavily regulate $as water, treated like a utility like water because it's a necessity. >> you're asking someone who doesn't believe in any government regulation of the economy, who truly believes that the free market can allocate resources better than the government can. so, the answer to my question has been, it shouldn't be regulated any more than water is and water shouldn't be regulated. >> i think you'll find, judge, in gun owning democracy, the guns on certain occasions will rule. hold on one second. do you own generac stock? >> no, subscribe it. have to get that out of the way. >> and i thought on the free market-- and this conversation is fascinating, but to get back to what you're saying, i agree with the judge in the sense that this $20 guy, he'll never get a dime of the business or my neighbor's business, and he'll go out of

business. >>, but the generator will get your business bauecause you're e mack daddy of-- >> and e-mac is so smart, and charles agrees. >> and i love economics. >> they're taking back that diploma. [laughter] that would be something. >> and get a generator? do you have a general. >> supplied by natural gas, and don't have to pour in gasoline at all. >> and worth more to keep it going. >> i'm able to pay more. you should see what they're doing to my ear here. >> i can hear them. stuart: you cannot accurately gauge the impact of a natural disaster from a distance, i learned that firsthand of the it's part of my take, which is next. it's a new day.

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>> the dow is up 140 and gm i think is just moving down. what's going on with gm, please nicole? >> we continue to get the numbers on auto sales and general motors coming out with auto sales for the u.s., rose 4.7% and they also raised their year end inventory. target, reducing stocks to the down side, and gm reported a 13% drop in the third quarter profit and they've seen losses in europe and that obviously has been a continued theme.

stuart: all right, nicole, thank you. >> thanks. stuart: oh, i was waiting for some animation to appear, it didn't appear so i'll launch right into my take, here we go. look, when the storm hit, i was in mississippi. the state has a terrific economic education program and i was fully engaged with some of the teachers and students so i watched sandy from a distance. i came home to new jersey yesterday, here is my take on that. i flew from jackson, mississippi to atlanta georgia, and from there to washington d.c. and that's as far as i could get my plane or train. to get to the new york area, i had to drive, and that tells you something. three days after the storm, america's biggest city was cut off. and heading north on i-95, mile after mile was dark. no lights in the houses. very few businesses opened. it was halloween, no kids on the streets. but then, the real shock arrived.

gas lines, huge gas lines, and the service stations traffic was backed up for two to three miles. closer to my home, the only gas station at that was open had several police cars trying to control the crowds. in so many areas of new york and new jersey, there is no power for the gas pumps and where they have juice, supplies of gas are running out. and when you have no electricity in your house, no gas in your tank, and the temperature is falling, you are in trouble. now, hold on a moment. i was up very early this morning and drove into new york city. there were more lights on by the side of the highway, just a few more, as i came across the george washington bridge, manhattan was clearly coming back albeit slowly and the two gas stations i saw open, there was maybe a half hour wait, but that was in at four o'clock in the morning and my point is this, it's hard to get to grips with a natural disaster from a distance. when you return to the thick of it, grim reality sets in.

no one is whining, that's not new jersey style, but when i came back and saw what sandy had done and felt what it had done, it was a real shock. follow the wings.

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>> we brought you the rasmussen tracking poll earlier which still shows governor romney with

a two point lead nationally over president obama. most of the other polls are still saying this election is now a dead heat. dan henninger says there's one voting block that could come out and maybe push mitt romney over the top, and dan is here with us now. and am i going too far-- you're going to identify this group, i know you're going to do that. are they big enough to push mitt romney over the top? >> yes, they are, it's the group during the republican primaries was described as the reason that mitt romney had no chance of winning because he was a mormon. and that was the evangelicals. stuart: who you're talking about. >> remember the conventional wisdom, the evangelicals would not vote for mitt romney. and i've been talking to the leaders and they're intensely supporting mitt romney and paul ryan and why that's important, ohio is kind of the linchpin of the election and in ohio

evangelicals constitute about 30% of the vote. and barack obama just carried ohio four years ago, but because john mccain had really done no outreach to the evangelicals and they were loaded up on our colleague mike huckabee, they stayed home. 300,000 evangelicals in ohio didn't vote in 2008. obama won by 260,000 votes. if they come out in large numbers more romney and ryan in ohio next tuesday, as they did for george bush in 2004 and 2000, i think that romney could take that state. stuart: now, are the evangelicals voting positively for mitt romney? because they like mitt romney? or are they voting negatively against president obama? because they don't like president obama? >> well, the good news for romney is that it's a combination of both. romney has done outreach to them. and richard land of the southern baptist convention has endorsed him. did that yesterday. he met with billy graham about three weeks ago, graham is

publicly supporting him. and i'm told that his selection of paul ryan was a huge plus, because ryan is a practicing catholic, very religious, the evangelicals, like paul ryan. on the negative side, they were, they noticed this battle that the catholic church got into with the obama administration over the obamacare requirement that they provide contraceptive services in their hospitals. the evangelicals have enormous amounts of outreach to people, and they-- to hospitals and such and they saw that this was going to affect them as well, and that the catholic churches fight was their fight. so, they, for those come could nation -- combination of reasons they're ready to vote. stuart: is the evangelical vote big enough to push president obama. >> about 31% in wisconsin, in iowa and 44% in north carolina,

and very large in florida as well so this, i think, is a factor, a voting block, flying beneath the radar, media wrote a lot about it in the primary, but not the last month or so. stuart: i see your point well argued, but are the people already counted in the polls which have already been taken and which represent a dead heat or a slight obama victory? >> you know, it's this sort of factor, stuart, that i think is a bit after problem for the polls. i'm not so sure they're picking up voting groups like this or the intensity behind them. >> dan, if you had to guess, which of the polls out there do you think would have picked up the evangelical reaction or vote here? >> that's a little hard to say, maybe the pew poll, because they've got that arm of pew research that does-- >> maybe. >> religious groups and so forth and maybe the pew poll and pew has got romney up by about 5 points, i believe. charles: would it be at this point then last second, rick

santorum was the one who gathered the votes in the primary process. would it be a net plus or net negative if he jumped in at the last second to try to help push those voters? >> i think it would be a net plus. charles: because he's been-- i don't know where he's been. if this is the case, now would be the time he'd step up. >> especially since pennsylvania is the one of the states that romney now thinks that they might have a chance of taking, but just to repeat, back in 2004, the kerry campaign thought in ohio because they had sort of dominant control, cuyahoga county, near cleveland, democratic strong hold was locked. in fact, because the evangelicals voted strongly for bish for cincinnati out to the west virginia border, they offset that cuyahoga advantage and took ohio. stuart: evangelicals, and a block, very interesting. >> we'll see.

stuart: always interesting, thanks, dan. and we're-- what does the jobs picture say, and how will it affect the election if at all. that's next. joe doesn't know , but he'll wk his way up from busser to waiter to chef before opening a restaurant specializing in fish and me from the great northwest. he'll start investing early, he'll find some good people to help guide him, nd he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade.

>> this is a big jump. the stock market nicely higher. thank you very much. the dow industrials up 156 points and put them at 13,250. the dow is up at the opening

bell and jumped more with consumer confidence numbers and highest levels for the consumer confidence since february of '08. the private sector added 158,000 in october. weekly jobless claims 363,000. and here is a pretty wild swing to the numbers we are seeing. and as for the price of oil, we're at $86 per barrel. and gas prices still down and falling. and the national average is 3.50 now. that's a loss of 28 cents. and the prices couud spike, if it becomes a scarcity on the east coast, that could happen as we've been saying, big gas lines in new jersey, that's the gas prices. of the

>> i've got gm stock down a little and i now see toyota stock is up. nicole, you tell me why that is. >> they came out with the auto sales for the us. and a rise of nearly 15.8% to be exact and came in a little shy of some estimates, but we're seeing the stock to upside. you may remember that in august toyota posted the highest quarterly profit in four years, this after they were reeling after the tsunami in japan and you remember that, they certainly had an uphill battle. u.s. sales up 16% in october. stuart: thank you, nicole. by the way, just to show you the point here, we have a nice rally on wall street at the moment. 161 points higher as we start this thursday morning. 13,250 for the dow.

and tomorrow we get the big october jobs report. it's the last big reading on the economy right before the election and joining us now is carol roth, a former investment banker. some would say a recovering investment banker and she joins us now, a frequent guest on the program. all right, carol, we're what, five days from the election. will you give your view, a snapshot view of the economy, how are we doing? >> well, i hate to be the bearer of bad news, stuart, i'm a realistic gal, but we're not doing great. i don't care if the jobs numbers came up higher or lower, they are he' different shades of gray. the economy is not doing well and we're in a situation where we're facing sluggish growth at best and possibly, if we don't fix the fiscal cliff, a recession. the biggest signal i'm seeing is dividends, and tell you a little about that. stuart: i'm going to get to that in a second, but look, we have a slew of numbers out today showing that construction

spending is up, confidence is sharply higher, we've got 158,000 jobs in the private sector, according to adp. now, those are signals that we're picking up. okay, it's not a great, a fabulous, robust recovery, but we're picking up. these numbers would suggest that the president has a point. are you going to contest that? >> well, let's just contest the numbers. i know adp is saying 158,000 jobs, but they just revised september. they first cut it in half yesterday and listed it slightly, but they originally reported 162,000 and now it's down to 114,000. so, i don't really trust the numbers, what i trust, stuart, is what the companies are reporting on a gap basis. so the fact that earnings were down, the fact that they were guiding q-4 estimates lower and back to my point about dividends, the amount of dividends the companies are paying out are very, very alarming to me. they're saying we have no better

use for the cash. we're not investing in jobs or capital or working capital and we're returning it back to you, the shareholder because they have nothing else to do with the money. so that's saying they don't have a catalyst for growth. they're the not investing in grate and what's going to grow the economy. stuart: that's a very interesting perspective. from an investor's point of view, a the lot of people love to see the big name companies, sit there and hold the stock and you reap the dividend. and you're saying it's an economic indicator, don't have anything better to do with the money. >> on the short-term it increases the yield, but in the long-term the companies aren't investing in the growth, then stock prices can't grow. yes, it's good for today, but if we look ahead to tomorrow, the company's paying out the dividends as a bad thing and i think it's a leading indicator. stuart: i know i go on about this, but you should really take a look at microsoft. that's $29 a share is yielding about 3, 3 1/2%, dead steady, 50

billion in the cash in the bank and i own the stock. are you telling me that i'm wrong, carol? >> i'm not telling you that you're wrong, stuart. you're never wrong, but i'm saying from a broader economy perspective, if we don't have these companies investing in growth, then, the companies aren't going to grow, the economy is not going to grow. it's going to come from the companies first not the consumers, that's how it's going to work. >> that's a very, very good point. when the companies raise dividends as they are right now, that tells you something about their outlook for the you futures. >> and what she says describes with capital spending numbers trending down. >> we should remember that. carol roth, thank you very much indeed. come back to new york, we're in the dark partly, but come back and see us, okay, we want to see you on the set again, soon. thanks, carol. >> thanks, stuart. stuart: the jersey shore devastated and a lot of manhattan still no power. noi, the natural guard is

evacuating stranded people from hoboken. a city with a lot of commuters and business people, and they can't get in can't get out. a live report from there coming up in a second.

>> hurricane sandy battered the east coast and hoboken new

jersey, across the river from manhattan. still reeling from the affects there, can't get in can't get out. and jeff flock is there as we speak. i want to ask you, are there people really still trapped in their homes in hoboken where you are? >> no, things have improved dramatically, water down and look at the people on the street. people have come out and this is the city hall here, they can get out of course they still don't have power. their cars are still, you know, drown. there's water in their basements, but, yes, they can get out. nobody is trapped anymore. stuart: okay, hold on a second, jeff, i want to read you comments of people who have chimed in on facebook page about the long gas lines in new jersey. i must admit we were shocked by the harsh tone from some of these people writing in. brian says, stupid yankees, you don't know how to fill your gas tank before an impending storm? all right. and then we've got this from bill: deal with it, yankees.

and the same thing from david, he says, i'm surprised they don't know to fill up a gas tank when a hurricane is coming. everyone on the gulf coast knows this. and all right, jeff, you heard what they're saying on the facebook page. and do you have a response, please? >> i'm -- i'm quite glad the people around me have not heard what you're reading and my life might be in danger. i say it's go experience, if you live on the gulf coast, maybe now that. i don't think that people in hoboken, new jersey expected to be flooded out by a hurricane so i think we can make a little bit of allowance there and you know, here is the thing, take a look at the national guard over there, they've rescued people the other day, but cars had been drown and people left their cars on the street and cars drown everywhere here and people having to have their cars towed away. stuart: and paint us a quick picture. you were born and raised on the jersey shore if i'm not mistaken and been there the past two or three days, paint the picture.

>> my first memories after hurricane donna, 1960, but they don't come here that often, unlike florida, unlike the gulf coast. so, you know, we're more used to nor easters and some snow, i think than hurricanes, and i've always been fascinated about hurricanes and chased them my whole life. people around here, if you live in hoboken, how often are you going to have a hurricane? >> good question, jeff. thanks indeed. great report. you heard what some of our facebook viewers are chiming in with, your reaction? >> i think they've got some legitimate points. i think there's a sort of more, this northeastern, you know, pamper pampered, you know, i talked to you guys earlier and the movie "beat of the southern wild" and people being gritty and dealing with nature. there's no doubt about it, things are getting worse we know it and by the way-- >> and beast of nature being a

different sort. dealing with different sorts being in our face as new yorkers, i hear what they're saying, but i believe in free speech, god bless them allowed to weigh in, we want to hear from our viewers. do we know that nobody out there knew to fill up their gas tank ahead of time, right? we don't know that. stuart: and what shocked me today is the arrival of the gas crisis because it's arrived in new jersey. if you can't get gas for your car, how do you get to work, that makes an economic crisis, stemming from the gas and power outage. that's what i think. look, you're free to chime in and say what you like on the facebook page and you certainly didn't hold back, did you? the highlight reel is next.

stuart: a big pact shows today. here is the highlight reel. i have annoyed a lot of our viewers this morning. >> our numbers show we will do very well in the election.

stuart: governor romney is taking a detour into states that are leading democrat in the polls. >> they are looking good, that is why. >> these people lives depend on it. >> polls are all over the place. stuart: we will see on tuesday. >> we will be back absolutely. stuart: would you like to pass judgment on my judgment? >> it has stalled a little bit. i do not think there is any debate. stuart: you blame that? >> i think he played -- [talking over each other] >> you are talking about momentum compared to when he was picking up dramatically. i think he still has momentum. stuart: libya has not been mentioned. dagen and connell, it is your